Posted 4.29.12 @ 11:14
Deciding whether you should sell now or remodel and sell later can be hard. You’ll want to take a good look at your finances and see if it makes financial sense to sell your home or to wait and improve. Here we’re going to go over everything you need to know about selling your luxury real estate and if now is the time to sell.
Are You Selling Because You Want to or Because You Need to?
You have to ask yourself if you’re making an emotional decision or because you should? Maybe you’re tired of your neighbourhood or your job, maybe you just want to live somewhere sunny? Are you coming from a place of want or a place of need? If you’re coming from a place of want you’ll need to be very careful. You can get really wrapped up and emotional about selling your home quickly. Selling your home can cost you between 10% and 15% of the home’s value to move. Real estate can be finicky so make sure you choose wisely.
What Do You Want in Five Years?
Think about what you want in five years and how much longer you want to wait to get it. Buying and selling a home an set you back a bit, but it can also help you achieve your goals. Ask yourself the following questions:
- Where do I want to be? Do I want to be in the GTA (Greater Toronto Area) or will I be living somewhere else?
- Does my current home match my lifestyle and goals? If I have children, will my house meet my needs? If my children leave for university, will I need to downsize?
- Will selling my home set me back financially or with my goals? Will keeping my home prevent me from achieving my goals?
If you want to sell your home but aren’t sure if it’s the right time, consider renovating it to bring up the value.
Remodel or Sell?
If you just want to sell because you don’t like the look of your house, you can always remodel. Changing the bathroom or kitchen can bring up the value in your real estate and make the place feel more like your home. You can even get tax credits for your home when you make it more energy efficient. But if you still want to move you could be able to bring up the asking price.
Look to see if other people are selling in your neighbourhood, are people buying, have prices dropped drastically recently? Know before you leap!
When you want to sell your home, you shouldn’t do it alone! We can help you get a fair and equitable sale. When you go with the Goodale Miller team you’ll be able understand your selling expenses, moving expenses and even to buy a new home too. We’ll do comparative analysis and help you sell your home for the right price.